Seeking opinions on 2 Carmel Valley listings

[gn]

FLU & Arty brought up an interesting point:

– Newer houses in newer neighborhoods vs. older houses in estalished neighborhoods.

I have always thought buying an older house in an established neighborhood tend to be better because:

1. For the same price, you get a better neighborhood.
2. The demographic in an established neighborhood is less likely to change dramatically. When you pay a certain amount of money for a house, most of that goes toward paying to be among a certain demographic. Your investment is at risk when the demographic changes dramatically.
3. The downside is the maintenance cost is higher, but I think it’s worth the benefits.

For example, take Santa Luz. I’m pretty sure there will be much foreclosure activities there in the next few years. This means there will be a lot of “turn over” in term of the people who live in Santa Luz. The future demographic of Santa Luz may very well be very different that the current demographic (and it’ll likely change for the worse not better). The same thing can be said for Ivy Gate in 4S.

10 years from now, houses in Santa Luz & Ivy Gate will have lost their “luster”. By then, the older houses in Carmel Valley will be worth more than those in Santa Luz & Ivy Gate.

Any thought ?

[Arty]

Even at 50% discount, you are still looking at every Santa Luz home to be above half a million. Unless you really care about the snob factor, I will much prefer to live with middle-upper class than the very rich :). Also, when the people who really can afford the houses moved in, the neighborhood should get better not worse.

[Arty]

Even at 50% discount, you are still looking at every Santa Luz home to be above half a million. Unless you really care about the snob factor, I will much prefer to live with middle-upper class than the very rich :). Also, when the people who really can afford the houses moved in, the neighborhood should get better not worse.

[Arty]

Even at 50% discount, you are still looking at every Santa Luz home to be above half a million. Unless you really care about the snob factor, I will much prefer to live with middle-upper class than the very rich :). Also, when the people who really can afford the houses moved in, the neighborhood should get better not worse.

[Arty]

Even at 50% discount, you are still looking at every Santa Luz home to be above half a million. Unless you really care about the snob factor, I will much prefer to live with middle-upper class than the very rich :). Also, when the people who really can afford the houses moved in, the neighborhood should get better not worse.

[Arty]

Even at 50% discount, you are still looking at every Santa Luz home to be above half a million. Unless you really care about the snob factor, I will much prefer to live with middle-upper class than the very rich :). Also, when the people who really can afford the houses moved in, the neighborhood should get better not worse.

[raptorduck]

gn. This is an interesting debate. I am dealing with the same question. I love Fairbanks Ranch. It is very established with mature landscaping and most people in there can comfortably afford their homes. The homes are beautiful and of excellent quality, the community beautiful, and location ideal. The downside is that almost every house I have seen there is in desperate need of an extreme makeover.

Another area I am looking at closely is Santaluz. There I am looking at brand new homes in unestablished areas that need no change whatsoever.

Overall, I prefer an established area. But then you have to remodel and hope your neighbors do to keep the area in top shape and that costs lots of $$. I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd. Not that FBR has that extreme problem, since the oldest houses are a mere 20 yrs old or so.

With a new house you can find exacltly what you want (well I have in Santaluz) and just move in and be done. Presumably newer houses will drive your value up as they are built around you.

But in this market, buying in a new area should be a better deal since developers need to unload inventory. That is the odd thing, Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch.

So one key reason for me to more likely buy in FBR or the Covenant is that I think Santaluz is way overpriced for what you get, and then you have the Mello Roos taxes and Poway schools in Del Sur. But, that won’t stop me from still looking in Santaluz. The houses I have seen are just great and the landscape motif has grown on me. I still like the area. I just don’t want to over pay.

So still in play for me are new and old areas. Each has a pro and a con so who knows where I will end up. FBR ranch is still my favorite, but I may just as easlily end up in other established areas like the Covenant, or newer ones like Sataluz and Cielo.

[raptorduck]

gn. This is an interesting debate. I am dealing with the same question. I love Fairbanks Ranch. It is very established with mature landscaping and most people in there can comfortably afford their homes. The homes are beautiful and of excellent quality, the community beautiful, and location ideal. The downside is that almost every house I have seen there is in desperate need of an extreme makeover.

Another area I am looking at closely is Santaluz. There I am looking at brand new homes in unestablished areas that need no change whatsoever.

Overall, I prefer an established area. But then you have to remodel and hope your neighbors do to keep the area in top shape and that costs lots of $$. I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd. Not that FBR has that extreme problem, since the oldest houses are a mere 20 yrs old or so.

With a new house you can find exacltly what you want (well I have in Santaluz) and just move in and be done. Presumably newer houses will drive your value up as they are built around you.

But in this market, buying in a new area should be a better deal since developers need to unload inventory. That is the odd thing, Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch.

So one key reason for me to more likely buy in FBR or the Covenant is that I think Santaluz is way overpriced for what you get, and then you have the Mello Roos taxes and Poway schools in Del Sur. But, that won’t stop me from still looking in Santaluz. The houses I have seen are just great and the landscape motif has grown on me. I still like the area. I just don’t want to over pay.

So still in play for me are new and old areas. Each has a pro and a con so who knows where I will end up. FBR ranch is still my favorite, but I may just as easlily end up in other established areas like the Covenant, or newer ones like Sataluz and Cielo.

[raptorduck]

gn. This is an interesting debate. I am dealing with the same question. I love Fairbanks Ranch. It is very established with mature landscaping and most people in there can comfortably afford their homes. The homes are beautiful and of excellent quality, the community beautiful, and location ideal. The downside is that almost every house I have seen there is in desperate need of an extreme makeover.

Another area I am looking at closely is Santaluz. There I am looking at brand new homes in unestablished areas that need no change whatsoever.

Overall, I prefer an established area. But then you have to remodel and hope your neighbors do to keep the area in top shape and that costs lots of $$. I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd. Not that FBR has that extreme problem, since the oldest houses are a mere 20 yrs old or so.

With a new house you can find exacltly what you want (well I have in Santaluz) and just move in and be done. Presumably newer houses will drive your value up as they are built around you.

But in this market, buying in a new area should be a better deal since developers need to unload inventory. That is the odd thing, Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch.

So one key reason for me to more likely buy in FBR or the Covenant is that I think Santaluz is way overpriced for what you get, and then you have the Mello Roos taxes and Poway schools in Del Sur. But, that won’t stop me from still looking in Santaluz. The houses I have seen are just great and the landscape motif has grown on me. I still like the area. I just don’t want to over pay.

So still in play for me are new and old areas. Each has a pro and a con so who knows where I will end up. FBR ranch is still my favorite, but I may just as easlily end up in other established areas like the Covenant, or newer ones like Sataluz and Cielo.

[raptorduck]

gn. This is an interesting debate. I am dealing with the same question. I love Fairbanks Ranch. It is very established with mature landscaping and most people in there can comfortably afford their homes. The homes are beautiful and of excellent quality, the community beautiful, and location ideal. The downside is that almost every house I have seen there is in desperate need of an extreme makeover.

Another area I am looking at closely is Santaluz. There I am looking at brand new homes in unestablished areas that need no change whatsoever.

Overall, I prefer an established area. But then you have to remodel and hope your neighbors do to keep the area in top shape and that costs lots of $$. I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd. Not that FBR has that extreme problem, since the oldest houses are a mere 20 yrs old or so.

With a new house you can find exacltly what you want (well I have in Santaluz) and just move in and be done. Presumably newer houses will drive your value up as they are built around you.

But in this market, buying in a new area should be a better deal since developers need to unload inventory. That is the odd thing, Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch.

So one key reason for me to more likely buy in FBR or the Covenant is that I think Santaluz is way overpriced for what you get, and then you have the Mello Roos taxes and Poway schools in Del Sur. But, that won’t stop me from still looking in Santaluz. The houses I have seen are just great and the landscape motif has grown on me. I still like the area. I just don’t want to over pay.

So still in play for me are new and old areas. Each has a pro and a con so who knows where I will end up. FBR ranch is still my favorite, but I may just as easlily end up in other established areas like the Covenant, or newer ones like Sataluz and Cielo.

[raptorduck]

gn. This is an interesting debate. I am dealing with the same question. I love Fairbanks Ranch. It is very established with mature landscaping and most people in there can comfortably afford their homes. The homes are beautiful and of excellent quality, the community beautiful, and location ideal. The downside is that almost every house I have seen there is in desperate need of an extreme makeover.

Another area I am looking at closely is Santaluz. There I am looking at brand new homes in unestablished areas that need no change whatsoever.

Overall, I prefer an established area. But then you have to remodel and hope your neighbors do to keep the area in top shape and that costs lots of $$. I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd. Not that FBR has that extreme problem, since the oldest houses are a mere 20 yrs old or so.

With a new house you can find exacltly what you want (well I have in Santaluz) and just move in and be done. Presumably newer houses will drive your value up as they are built around you.

But in this market, buying in a new area should be a better deal since developers need to unload inventory. That is the odd thing, Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch.

So one key reason for me to more likely buy in FBR or the Covenant is that I think Santaluz is way overpriced for what you get, and then you have the Mello Roos taxes and Poway schools in Del Sur. But, that won’t stop me from still looking in Santaluz. The houses I have seen are just great and the landscape motif has grown on me. I still like the area. I just don’t want to over pay.

So still in play for me are new and old areas. Each has a pro and a con so who knows where I will end up. FBR ranch is still my favorite, but I may just as easlily end up in other established areas like the Covenant, or newer ones like Sataluz and Cielo.

[gn]

I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd.

I used to live in the bay area so I understand what you mean by this. Still, this doesn't have any negative effect on Los Altos's reputation.

In contrast, consider the neighborhoods of Evergreen & Silver Creek in San Jose. These neighborhoods have large & new houses that look very nice. But that's all they have going for them: a nice house on an "average location". I think, in the long run, Evergreen & Silver Creek will "slip" because the houses there will become older.

Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch. 

You are right. One of the reasons is that speculation is more prevalent in Santa Luz (speculators love new houses, they lock in the price when they sign the contract, hoping prices will go up during the 6 months it takes to build the house).

The downside is that almost every house I have seen there is in desperate need of an extreme makeover. 

This is not a bad thing because: once you "makeover" the house, you'll have a nice house in a great neighborhood. Where as, with Santa Luz, it's all down hill from the time you purchase the house.

[gn]

I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd.

I used to live in the bay area so I understand what you mean by this. Still, this doesn't have any negative effect on Los Altos's reputation.

In contrast, consider the neighborhoods of Evergreen & Silver Creek in San Jose. These neighborhoods have large & new houses that look very nice. But that's all they have going for them: a nice house on an "average location". I think, in the long run, Evergreen & Silver Creek will "slip" because the houses there will become older.

Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch. 

You are right. One of the reasons is that speculation is more prevalent in Santa Luz (speculators love new houses, they lock in the price when they sign the contract, hoping prices will go up during the 6 months it takes to build the house).

The downside is that almost every house I have seen there is in desperate need of an extreme makeover. 

This is not a bad thing because: once you "makeover" the house, you'll have a nice house in a great neighborhood. Where as, with Santa Luz, it's all down hill from the time you purchase the house.

[gn]

I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd.

I used to live in the bay area so I understand what you mean by this. Still, this doesn't have any negative effect on Los Altos's reputation.

In contrast, consider the neighborhoods of Evergreen & Silver Creek in San Jose. These neighborhoods have large & new houses that look very nice. But that's all they have going for them: a nice house on an "average location". I think, in the long run, Evergreen & Silver Creek will "slip" because the houses there will become older.

Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch. 

You are right. One of the reasons is that speculation is more prevalent in Santa Luz (speculators love new houses, they lock in the price when they sign the contract, hoping prices will go up during the 6 months it takes to build the house).

The downside is that almost every house I have seen there is in desperate need of an extreme makeover. 

This is not a bad thing because: once you "makeover" the house, you'll have a nice house in a great neighborhood. Where as, with Santa Luz, it's all down hill from the time you purchase the house.

[gn]

I can tell you in Los Altos hills and Los Altos up here, there are lots of 60-100 yr old shacks next to huge new dream homes and it looks very very odd.

I used to live in the bay area so I understand what you mean by this. Still, this doesn't have any negative effect on Los Altos's reputation.

In contrast, consider the neighborhoods of Evergreen & Silver Creek in San Jose. These neighborhoods have large & new houses that look very nice. But that's all they have going for them: a nice house on an "average location". I think, in the long run, Evergreen & Silver Creek will "slip" because the houses there will become older.

Santaluz is very overpriced compared to more established areas like the Covenant and Fairbanks Ranch. 

You are right. One of the reasons is that speculation is more prevalent in Santa Luz (speculators love new houses, they lock in the price when they sign the contract, hoping prices will go up during the 6 months it takes to build the house).

The downside is that almost every house I have seen there is in desperate need of an extreme makeover. 

This is not a bad thing because: once you "makeover" the house, you'll have a nice house in a great neighborhood. Where as, with Santa Luz, it's all down hill from the time you purchase the house.

[Author]

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